AZ HB2335

Changes the chapter heading in Title 20, Chapter 24 from "Insurance Compliance Self-Evaluative Privilege" to "Insurance Compliance Audit Privilege"

Expands the definition of "insurance compliance audit" to mean voluntary internal evaluations, reviews, assessments, audits or investigations conducted by or on behalf of licensed insurers to identify or prevent noncompliance with laws, regulations, or industry standards, with required start and end dates

Modifies notification requirements so insurers must notify the director prior to initiating an audit and make all audit documents available to the director upon conclusion, while allowing the director to obtain documents at any time

Increases the filing period for insurers to petition for an in camera hearing regarding disclosure of audit documents from 30 days to 60 days after receiving a written request by certified mail

Clarifies that audit documents remain confidential and privileged even when submitted to the director and are not subject to public records requests, subpoenas, discovery, or admission in private civil or administrative proceedings conducted outside the director's regulatory authority